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ALF/TVI - Simple, effective daytrading

  • #581
  • Apr 29, 2010 12:55am Apr 29, 2010 12:55am
Quoting gregben
I could not get your NonLagMA.ex4 indicator ( from post 526 ) to load into the custom indicator file on my M4 platforms. I subsequently downloaded from another site a NonLagMA_v4 file and got it to work. Could you please give me the parameters that you use in the inputs file of your indicator so I can try that setting.
Thanking you in advance.
gregb

Hi Gregben,

This is the settings for the NonlagMa

price-0,
lenght-21,
displace-0,
pct filter-0.0,
colour-1,
colourbarback-1,
deviation-0.0,
soundalertmode-0

thnx
  • #582
  • Apr 29, 2010 2:44am Apr 29, 2010 2:44am
Many thanks, up and running nicely. Should be good to keep in trend longer. I also use an extra TVI with 24:24:5 settings which is also good for extra pips.
Gregben
  • #583
  • Apr 29, 2010 5:07am Apr 29, 2010 5:07am
Hi pipzap,

is there anyway to create an alert when the ALF and NonLagMA crosses? so that we need not scroll thru the charts time and time.

Btw, u do scroll all over ur charts to see whether conditions are met? thanks

Quoting pipzap
Hi Gregben,

This is the settings for the NonlagMa

price-0,
lenght-21,
displace-0,
pct filter-0.0,
colour-1,
colourbarback-1,
deviation-0.0,
soundalertmode-0

thnx
  • #584
  • Apr 29, 2010 8:07am Apr 29, 2010 8:07am
Quoting KPForex
Hi pipzap,

is there anyway to create an alert when the ALF and NonLagMA crosses? so that we need not scroll thru the charts time and time.

Btw, u do scroll all over ur charts to see whether conditions are met? thanks
Oh sorry, dont know how to do that.

I scroll thru the charts.

Anyone in da house wanna help wf dt?

happy trading!
  • #585
  • Apr 29, 2010 8:20am Apr 29, 2010 8:20am
I opened position for 2 currency pairs today. EJ for 12 pips and AU for 18 pips.

Not so bad for a slow day. Could have made but im going out now, guess its better to close at a profit than a loss.

How are you guys doing with the system?

Im getting more confident in the consistency of the system.

Happy trading.
Attached Image (click to enlarge)
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  • #586
  • Apr 29, 2010 8:27am Apr 29, 2010 8:27am
I long GU ... and close when at 45 pips TP.. haha.. cos it hit Resistance.. so i just close it... cool... think i going live soon ... haha

i taking a look at EJ and UJ now.. but haven enter yet.. just wait...

Quoting pipzap
I opened position for 2 currency pairs today. EJ for 12 pips and AU for 18 pips.

Not so bad for a slow day. Could have made but im going out now, guess its better to close at a profit than a loss.

How are you guys doing with the system?

Im getting more confident in the consistency of the system.

Happy trading.
  • #587
  • Apr 29, 2010 9:25am Apr 29, 2010 9:25am
Hey all,

I wanted to post a trade I passed on due to the size of the signal candle. It happened this morning.

on EUR USD :

The setup : Major news happened 2 candles before the signal candle ( unemployment claims came out worse than expected (weakness for USD))

the Signal Candle : size 48 pips (body 38 pips) , Crossed ALF downward, TVI has been down for entire US session and part of London Session ( past 11 candles), TVI about to cross the zero line and has been going down since color switch.


The Candle size is too big for me. Another point against entering is that the TVI has been going down for a long time. Also the candle leaves price close to resistance of 1.3220.

From my experience, most price swings on the 15 minute EurUsd chart are 30 -60 pips. This one candle took that range itself without logical news backing it. This looks like a correction of speculation from earlier price action.

Mark
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 44 KB
EllisEdi Moving on to my next trade ...
  • #588
  • Apr 29, 2010 9:44am Apr 29, 2010 9:44am
[quote=EllisEdi;3683848]Hey all,

I wanted to post a trade I passed on due to the size of the signal candle. It happened this morning.

on EUR USD :

Hi EllisEdi,

Wouldn't there be a valid sell two (or five) bars prior, which would have given you the possibility to be already short on the 48pips bar?

gr pbb
  • #589
  • Apr 29, 2010 9:53am Apr 29, 2010 9:53am
i long UJ @94.24 now .. with 25 pips SL.. and TP not set...
  • #590
  • Edited 10:13am Apr 29, 2010 10:12am | Edited 10:13am
Quoting pbb
Hi EllisEdi,

Wouldn't there be a valid sell two (or five) bars prior, which would have given you the possibility to be already short on the 48pips bar?

gr pbb
I was just using that big signal bar example as something I look out for while considering a signal.

As for trading the chart...

Yes, they are both valid entries. The one from 5 bars prior is a bit questionable to me because it closes within the consolidation of the last move. The signal from 2 bars prior is a bit better as it closes outside of the consolidation, but it has a long bottom wick. Now, I was not trading during that signal candle, but if I was, I may have entered short then exited when price did not break lower than the signal candle but did break higher. It is difficult to tell what I might have done because sometimes I will set a 20 - 25 pip stop exit target and try to let it run, but recently I have been trying to exit sooner say 10 pips (plus spread).

Lou once explained that the best setups were when price barely moved against you at all after entry and I have been experimenting with that type of rule.



Mark
EllisEdi Moving on to my next trade ...
  • #591
  • Apr 29, 2010 10:25am Apr 29, 2010 10:25am
Quoting EllisEdi

Lou once explained that the best setups were when price barely moved against you at all after entry and I have been experimenting with that type of rule.



Mark
Thanks for explaining! I also understand that it's 'feel good situation' when the price doesn't move against you (barely). However it's impossible to predict what the move will be after you get in. Smaller stops (10pips for instance) might be a good thing. Somehow we have to get back and see what the outcome would have been using different exits. I tend to use an atr exit, which allows larger stops in more volatile markets.
  • #592
  • Apr 29, 2010 11:12am Apr 29, 2010 11:12am
Quoting gopsat77
hi lou g
here is a charte which i enter a long, will you please tell me if my entry is good or bad
thanks

kind regards
gopsat

be wary of having too many indicators just my humble opinion
  • #593
  • Apr 29, 2010 4:20pm Apr 29, 2010 4:20pm
Good trades guys.

keep the pips rolling in.

thanks to Lou.

Lets repeat the profit making tomorrow.
  • #594
  • Apr 30, 2010 3:55am Apr 30, 2010 3:55am
Hi Guys

Here is a loosing one Any comment please ?

TF is 15M
Attached Image (click to enlarge)
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  • #595
  • Apr 30, 2010 4:46am Apr 30, 2010 4:46am
it was risky because of 1h trend
id like to use mtf alf set to 1h to se where is alf on 1h or at least 30m and not play against it
not always but usual
see here - that orange is alf for 1h

http://img411.imageshack.us/img411/6356/gpb.gif

lucky you now its going down
  • #596
  • Apr 30, 2010 7:04am Apr 30, 2010 7:04am
Hey Lou, was wondering if you have played around with AFL and MTF AFL on lower time frames. Also I can say I have not seen AFL discussed much or used much for that matter on these boards. Any other discussions out there on the subject? Thanks in advance.....PTL
Look Sharp/Trade Tight
  • #597
  • Apr 30, 2010 8:17am Apr 30, 2010 8:17am
Quoting gopsat77
Hi Guys

Here is a loosing one Any comment please ?

TF is 15M
For me it was not losing trade because candles never closed above ALF.
And your sl must be bigger then 20 pips for GU.
The Road appears under the steps of walking men...
  • #598
  • Edited 9:03am Apr 30, 2010 8:45am | Edited 9:03am
Quoting gopsat77
Hi Guys

Here is a loosing one Any comment please ?

TF is 15M
Your entry was a good one. Your stop would need to be above 1.5385 (the last swing area) and your take profit around 1.5325 or a bit lower to get at least 1:1 risk : reward ratio. This trade would have worked out then.

On a side note ... When using a smaller stop exit, I like to enter when price goes lower then the candle that crossed the ALF (when price is moving fast) or on the close of the candle immediately after the one that crossed when that candle closes in the same direction as the trade (in a short, the second canlde must close down for me to enter)

Experience and screen time will help you get a feel for your prefered currency pair.


Sorry about previous analysis ( i deleted it) I misread your indicators (too many for me)...

Mark
EllisEdi Moving on to my next trade ...
  • #599
  • Apr 30, 2010 9:12am Apr 30, 2010 9:12am
Hi all,

A quick trade from this morning. Short EUR USD on cross of ALF with TVI pointing down and near to cross zero line. Tp Exit set to 20 pips. Stop exit set at 10 pips.

Additional analysis that i noticed (GBP/USD on downward push) TVI divergence with price (Price highs going up while TVI highs going down)
Previous support near 1.3290 so exit is good.

These additional analysis points only confirmed my decision.




Mark
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-04-29-1000-EurUsd.JPG Size: 42 KB
EllisEdi Moving on to my next trade ...
  • #600
  • Apr 30, 2010 9:19am Apr 30, 2010 9:19am
I did it again, entered into a risky trade.

I entered short right into a support area of 1.3305. It was also a major round number area of 1.3300. Before the trade I reasoned that price usually likes to break through major round number areas by a bit before retracing to previous levels or retesting the major round number area and continuing in the direction of the break.

This is where my screen time with this pair has paid off.

Mark
EllisEdi Moving on to my next trade ...
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